IDBI Capital: VIP Industries Logs Another Weak Quarter; No Respite In The Near Future
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
VIP Industries Ltd. reported significantly weaker than expected Q2 FY21 results.
This was due to adverse impact of Covid-19 that has affected travel and tourism; thus adversely affecting luggage, handbags and backpack sales.
The company’s net sales fell 75.1% YoY to Rs 1,028 million (50% below our forecast).
Ebitda loss stood at Rs 221 million compared to Ebitda of Rs 663 million in Q2 FY20.
The company aims to conserve cash and cut fixed costs in FY21.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.